Since its inception in 2009 with the launch of the first ever crypto, Bitcoin, cryptocurrency has significantly grown in popularity and adoption. With more people learning more about it every day to invest in it and also trade, it is essential to educate people about the advantages of this form of investment.
5 Reasons To Invest In Cryptocurrency
You Have Total Control Over Your Crypto Wallet
A crypto wallet is a digital wallet through which you store your cryptocurrency and conduct transactions. With your crypto wallet, you have absolute authority over it without interference from an external party. Traditional banks control your bank account and could easily block or flag it, restricting you from performing certain transactions.
But with a cryptocurrency wallet, you do not have to worry about that.
No Transaction Limitations
We’ve all been in a situation where we want to send money to someone, and your bank app shows the error message about reaching your daily transfer limit. Well, with cryptocurrency, that error message does not exist. One of the significant advantages of crypto is that there are no limits to how much you can send or receive in a day. With cryptocurrency, you can enjoy unlimited daily transfers and no limits to how much you can send or receive.
Profitable for Short-term Investments
With crypto, you can decide to invest in it for the long haul or even short term, and there are various strategies for both investment types. When it comes to other forms of investment, aside from cryptocurrency, you mostly hear that it is better to invest in them long-term as short-term plans do not yield profit. But with cryptocurrency, you can decide to invest in it for only a short period by making use of particular investment strategies like day trading and the like.
This is possible due to the highly volatile nature of cryptocurrencies.
It Is Decentralised
As this is one of the main features of cryptocurrency, it is only possible to tell you about the benefits of investing in it by talking about its decentralised nature. Crypto is the big boss that does not answer to nobody, not the bank, the government and definitely no parents. Because of its decentralised nature and freedom, crypto is not affected by a country’s economic problems.
Because it is decentralised, you also enjoy peace of mind because of its security. Investing in cryptocurrency ensures that nobody will track your transfers if you don’t disclose them.
Crypto Market Hours
Unlike the Forex market, which is open all day but only 5 days a week, excluding the weekend, the crypto market is available 24 hours a day and 7 days a week. This means that you can trade your cryptocurrency anytime and any day.
With a global market cap of $865 Billion, cryptocurrency has continued to prove that it is here to stay. Digital currencies have continued to grow in popularity, and even countries have started to accept them as legal tenders. With the increase in the adoption of crypto, more people are looking into this investment type.
While they are lots of benefits to investing in digital currencies, you should not take research lightly. Before you invest in any crypto coins, even the most popular ones, you should research them and critically analyse what strategies you will be using.
This will help you study the market and, in turn, get the most out of your investments.
This article is written by Somebody From Breet. Breet is an OTC crypto trading platform in Africa where users can sell their crypto, convert it to cash and withdraw it to their local bank account within seconds.